Share
- Release Date: 16/07/13 14:24
- Summary: FORECAST: DGL: 2013 Harvest Announcement and Performance Guidance Update
- Price Sensitive: No
- Download Document 1.81KB
DGL
16/07/2013 12:24
FORECAST
REL: 1224 HRS Delegat's Group Limited
FORECAST: DGL: 2013 Harvest Announcement and Performance Guidance Update
Delegat's Group Limited announces that it has concluded the 2013 harvest
which amounted to 28,884 tonnes, in line with forecast and up 42% on the low
yielding 2012 vintage. This includes 1,271 tonnes from acquired productive
vineyards during the year.
The 2013 harvest has delivered on-target yields and in line with previous
guidance. The season has delivered exceptional quality fruit as a result of
ideal weather conditions throughout the 2012/13 growing season.
Jim Delegat, Managing Director, Delegat's Group Limited says "the Group has
closely managed its inventory throughout the 2013 financial year. The higher
2013 harvest provides us the opportunity to rebuild our depleted
carry-forward inventory levels for Chardonnay, Pinot Noir and Merlot. The
Marlborough Sauvignon 2013 vintage was released in early June".
The Group is confident in its ability to deliver a strong performance in 2013
financial year having maintained in-market case price realisation and case
sales volumes in an environment of continued foreign exchange headwinds. The
Group's 'operating profit' will be in line with the previous market guidance,
albeit having incurred acquisition costs for the purchase of Barossa Valley
Estate Pty Limited.
The Group anticipates that the 'reported profit' will be significantly higher
this year through the impact of New Zealand IFRS fair value adjustments,
particularly the net harvest provisions for the current year vintage.
ENDS
For further information please contact:
Jim Delegat
Managing Director and Chief Executive Officer
Delegat's Group Limited
Telephone 64 9 359 7300
Email: [email protected]
End CA:00238636 For:DGL Type:FORECAST Time:2013-07-16 12:24:22
